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Q. What is the procedure for buying in Italy?
A. For full information on the buying process see - Buying
Process
Q. How long does it take to buy a property in Italy?
A. It depends on the situation of the buyer and seller. If the buyer is
ready to go and the house is vacant, about 6 – 8 weeks is usual. Quite
often paperwork has to be prepared, registration updated, planning issues
sorted out, and this means it can take longer. It also depends on whether
you are coming in person or arranging power of attorney, as this takes a
bit longer. If the property is vacant, and all paperwork is up-to-date
it’s possible to buy immediately, as soon as we can make an appointment
with the notary.
Q.What if I find a house and don’t want to be gazumped?
A. In Italy it is possible to sign a purchase agreement (a ‘Proposta
Irrevocabile d’Acquisto’) which reserves the property for you for
usually about a month maximum until you sign the compromesso (first
contract) A deposit is required (usually a cheque for 2000 euros or
equivalent)which is held by the agency and returned to you at compromesso.
If you change your mind about buying you would lose your deposit, but you
are protected against any legal or planning issues should they arise.
Q. Can I find a large habitable farmhouse to restore in
good structural condition with lots of land, outbuildings, views,
possibility of income, all services connected, private but not isolated,
within walking distance of a village, less than an hour to the airport etc
for a very low price?
A. Of course everyone wants this sort of property! It’s important to be
realistic about prices. Have a good look at our website to get a feel for
prices. You can of course find properties for low prices, but that
doesn’t mean you’ll find a habitable, large building with scope for
development for 50,000 euros. If you have a low budget, consider a village
house, apartment or restoration to carry out over time. Remember Tuscany
is expensive in most areas, sought after, and rustic properties to restore
are becoming scarcer and scarcer.
Q. Are the advertised prices negotiable?
A. As anywhere else, some are, some aren’t. It depends on the owners and
how quickly they would like to sell, and how long it’s been on the
market etc. In general, the lower the price the less negotiable it is.
Q. Can you help me arrange a mortgage?
A. Yes, you can usually borrow a minimum of €50,000 and a maximum of
80%.
Q. I’d like to restore a property but have never done
anything like this before and don’t speak Italian. Am I capable?
A. We can project manage for you. The architects, geometras and builders
carry out their job as normal, and we can be intermediaries for the
language. Typical cost of 1% - 2% of total cost, depending on time spent
on the project.
Q. Can I have a survey done?
A. It is true most Italians don’t have a survey done, but of course you
can. The cost is usually €500 + Vat, and we’ll provide a summary in
English. If you buy an apartment which has been completely restored by a
company the Italian Civil Code requires that company to guarantee the
property from all defects for 10 years (Similar to the NHBC in the UK) so
a survey isn’t really necessary.
Q. How much will a restoration cost?
A. A ball-park figure is 1000 euros per square metre for a TOTAL
restoration including connection to services, new roof, floors, new
electrics, plumbing, heating, windows, doors, etc
So a 250m2 building will cost in the region of 250,000 euros for a
complete restoration, although there are economies of scale for larger
projects.
If you choose to use very expensive materials, and install jacuzzis,
under-floor heating and other expensive items the cost will obviously be
higher. About two thirds of the cost of restoration is labour.
Q. I am very handy. Can I carry out the works myself?
A. We’d recommend leaving the structural work such as roofs to the
specialists, who know how Italian houses are constructed, and it’s
important that electrics and plumbing are certified. You can certainly
carry out works such plastering, tiling, decorating etc yourself to save
money if you have the know-how.
Q. If there’s no water and electricity, what do I do?
A. Electricity – you can connect to mains electricity and the cost
depends on distance. If you restore the house first (using a generator for
electricity), the electricity board then has a duty to connect you for a
low fee.
Water – you can connect to mains water depending on distance, or if
there is a spring you can use this, or dig a well if it’s a suitable
area (you’ll need to arrange a geological survey to check), or
alternatively have a large holding tank buried which holds up to 30,000
litres, and you have the water delivered.
Q. I like one of your barns but there’s no planning
permission in place. You say I can convert it into a house but how do I
know I’ll get planning permission?
A. Each area has different planning regulations. We can check with each
individual council to ascertain what can and can’t be done, whether the
building can be extended etc.
Q. I like the look of one of your village houses. But as
there’s no garden, can I create a roof terrace?
A. extremely unlikely. Old village houses are strictly protected from the
planning point of view and external modifications are not usually allowed.
Q. What is a geometra?
A. There’s no real equivalent of a geometra. He is like a surveyor and
project manager and in general prepares all paperwork for property sales,
improvements, planning applications etc. A vendor will have a geometra who
will make sure all paperwork is up-to-date and in order for the sale. We
also recommend you have a geometra represent you in the sale, to check all
aspects of the paperwork and will recommend one. You can choose your own
if you prefer.
Q. Do you organise viewing trips?
A. For some properties, the developers will organise viewing trips, but in
general no, as most people prefer to be independent, staying for a few
days or weeks, hiring a car, exploring the area etc.
Q. I want to buy in an expensive part of Tuscany. Will I
find a detached house for 200,000 euros near San Gimignano?
A. No. Consider buying an apartment instead.
Q. I have a very low budget and would like to buy on the
coast.
A. The coast is very expensive, as are cities. If you have a very low
budget, look at rural areas. In general the further a property is from
work, city, town, transport links etc, the lower the price.
Q. Why do you sell what look like ‘piles of stones’?!
A. A ‘pile of stones’ can be a great investment. The purchase price of
a ruin is low but you are not buying it for its current condition, you are
buying the footprint, land, location, views, etc and most importantly the
VOLUME of the building which you can rebuild and in some cases extend. In
most areas of Tuscany it’s extremely difficult to get planning
permission for a new building but by buying a ruin, you automatically have
the volume of a house, even if it means building that house. Of course,
you can retain some original features if there are any left, and re-use
the stone. It can be one of the best ways to invest, and means you can
create the house to your own specifications.
Q. I want to make a large investment/start a company/
buy one of your commercial properties etc. I don’t speak the language.
How do I find out about taxes/legalities etc?
A. We can put you in touch with bilingual business advisers/accountants
with offices in London and Italy.
Q. I’ve heard I can save money on the exchange rate
when I send funds to Italy. How?
A. Yes, you certainly can. We recommend currency dealership FX Solutions,
who guarantee our clients the best possible exchange rate, far better than
banks, which can save you a great deal of money. All our clients find them
extremely helpful and beneficial.
Q. What about insurance?
A. If you are British we can arrange insurance through Devon Direct for
you. Alternatively we can arrange insurance through an Italian company,
Lloyd Adriatico. Both companies offer our clients substantial discounts.
Devon Direct policies are governed by English law and all the paperwork is
in English, and cover includes flights to Italy to sort out any problems,
while the Italy policy is cheaper but governed by Italian law, and the
paperwork is all in Italian.
Q. I’ve heard lots of horror stories about buying in
Italy. Is it risky?
A. We are happy to report, we have never experienced any ‘horror stories’
as we want all our clients to be happy, for their own sake and ours! We
work only with professionals, who although they work with us must remain
independent and have professional standards to maintain. If any house we
offer for sale turns out to have any problems which cannot be resolved we
would of course inform you, as we would not want you to buy it. Your
geometra will discover any problems associated with the house, and of
course the notary cannot conduct the sale if there are unresolved legal or
planning issues.
Q. Can I always extend?
A. No. It depends on the planning regulations for each area. We can find
out for you.
Q. I can’t make it to Italy to sign either of the
contracts. What shall I do?
A. We can arrange special power of attorney for someone to sign on your
behalf. (cost 250 euros)
Q. Can you help me with restoration if I buy through
someone else?
A. Yes, although not in all areas of Tuscany.
Q. Why do I need an agent?
A. Agents such as ourselves are very different to most estate agents. We
don’t just find you a house and walk away, we do everything necessary to
assist you through the purchase and beyond, including checking the
paperwork for the house, drawing up the contracts, translating them,
arranging compromesso and notary contract, giving advice on restorations
and any other matters post-sale, and helping you find the right people to
assist you.
Q. Why do house prices in Tuscany vary so much?
A. Tuscany is a very large region so of course prices will vary. From city
to coast to mountains to rural areas, then there are more popular areas,
more isolated areas. The house price depends on location but also on many
other factors such as condition, original features, garden/land, views
etc.
Q. I want to buy an apartment but it’s not finished
yet.
A. Usually you sign the compromesso now, and either the balance on
completion, or quite often pay instalments at various stages of the
building works and the balance on completion.
Q. I want to buy a house that’s been rented, or a
commercial property. Why won’t you give me full details of turnover/profit
etc so I can judge if it’s viable?
A. Understandably, owners of rental properties, hotels, restaurants,
agriturismi etc do not wish their full financial details passed on. We
will do our best to obtain an idea of rental amounts / occupancy /
turnover but really until you have viewed the property and met the owners
it is unlikely they will allow us to pass on this information to you.
Q. What’s the best airport for Tuscany?
A. Pisa, although you can also fly to Florence. Slightly further are
Bologna or Bologna Forli airports, Genoa, Ancona. See this page for
airport details - Flight
information
Q. Can I view on a Sunday?
A. I’m afraid not. Everyone works long hours and needs a day off in
order to perform well the rest of the week, see their families etc.
Saturdays are usually very busy so it’s best to come in the week.
Flights are also usually cheaper Monday – Thursday.
Q. Can I just turn up to meet someone in Italy and go
and see some houses?
A. No. We need to book your appointments in advance so that a) we can fit
you in, b) agents sometimes need to travel quite a way themselves, c)
sometimes owners need to also be forewarned of a visit. Tel 00 39 348 322
02 93 to arrange viewings.
Q. I submitted an enquiry about one of your properties
through your website a couple of days ago and haven't had a reply. Why not?
A. As soon as we receive enquiries we take action - we either answer them
or, if we do not have the answer, contact the person who can find out for
you, and get back to you as soon as we can. Do give us a call if you need
some urgent information or wish to arrange a viewing. Tel 00 39 348 322 02
93
Q. I am an serious investor looking for a large
profitable construction / commercial project in Italy. Can you help me
find that really good buy?
We certainly can. We have many large commercial possibilities and building
land. You can see some of them on our website, but if you have any
specific needs, do give us a call or arrange to come and meet us.
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